B. Riley Upgrades Nextdoor (NYSE:KIND) to "Hold"

Nextdoor (NYSE:KIND - Get Free Report) was upgraded by analysts at B. Riley to a "hold" rating in a note issued to investors on Tuesday, MarketBeat.com reports.

A number of other brokerages have also recently issued reports on KIND. Morgan Stanley cut Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research note on Tuesday, May 13th. The Goldman Sachs Group reduced their price target on Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th.

Nextdoor Trading Up 1.6%

Shares of KIND traded up $0.03 during midday trading on Tuesday, reaching $1.58. The stock had a trading volume of 2,129,974 shares, compared to its average volume of 1,798,135. The company has a market capitalization of $602.58 million, a price-to-earnings ratio of -6.56 and a beta of 1.16. The company's 50-day moving average is $1.51 and its 200 day moving average is $1.95. Nextdoor has a 12-month low of $1.32 and a 12-month high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $54.18 million during the quarter, compared to analyst estimates of $53.14 million. Nextdoor had a negative return on equity of 15.75% and a negative net margin of 36.95%. Research analysts forecast that Nextdoor will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds have recently modified their holdings of KIND. Titleist Asset Management LLC boosted its holdings in shares of Nextdoor by 1.1% during the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock worth $905,000 after purchasing an additional 4,000 shares during the period. Occudo Quantitative Strategies LP lifted its holdings in Nextdoor by 3.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company's stock worth $328,000 after buying an additional 4,091 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Nextdoor by 77.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after buying an additional 4,514 shares during the last quarter. Invesco Ltd. increased its stake in shares of Nextdoor by 2.2% during the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company's stock valued at $577,000 after buying an additional 5,178 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Nextdoor by 13.9% during the first quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock valued at $85,000 after buying an additional 6,793 shares during the period. Hedge funds and other institutional investors own 35.66% of the company's stock.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.